INTEREST RATE SWAP Definition

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INTEREST RATE SWAP (IRS) is a contractual arrangement between two counter-parties who agree to exchange interest payments on a defined principal amount for a fixed period of time.

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TRADE ACCEPTANCE is a draft drawn by the seller of goods upon the buyer who agrees to pay usually by signing "accepted" on the draft along with the buyers signature.

TRADE DATE, in securities, is the actual date on which a trade is initiated or executed.

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